The European Union is preparing to impose a 15% tariff in the USA starting Friday

• The United States will impose a 15% tariff on most goods from the EU.
• Negotiations on the details of the agreement are ongoing and should be finalized shortly.
• The introduction of tariffs includes exceptions for certain strategic goods.

BRUSSELS — The European Union is working under the assumption that the United States will impose a 15% tariff on most exported goods from the EU starting Friday, although both sides have yet to finalize the key document that specifies how the agreement will operate.

Last week, US President Donald Trump and the President of the European Commission Ursula von der Leyen reached a political agreement under which a 15% tariff will be imposed on nearly $380 billion worth of EU production (approximately $434 billion).

These tariffs will take effect on Friday, but both sides are still working on a joint statement that outlines the conditions of their agreement, said European Commission spokesman Olaf Ghill. The document will not be legally binding.

"This is a clear indication from the European Union that the USA will implement the agreed tariff at 15%," Ghill said. The Commission is conducting negotiations on trade conditions with representatives from 27 EU member states.

Exemptions have been agreed for a number of "strategic" goods, such as aircraft and aviation parts, certain chemicals, and some generic pharmaceuticals or natural resources. Ghill also noted that "this is our clear indication that the USA will implement exemptions from the 15% tariff."

"The USA has made these commitments. Now it all depends on the USA regarding their implementation. I am in their hands," he said.

European wines and spirits will not escape the 15% levy on Friday, but may receive exemptions in the future, as negotiations continue on additional exemptions for the new tariff regime.

Before the upcoming meeting on Sunday, Trump hinted at blocking a 30% tariff, which, according to the words of the chief trade representative of the EU, effectively meant the end of trade between them. Over the past three months, the Commission has prepared retaliatory measures worth tens of billions of euros that will be imposed if negotiations fail.

The countermeasures may take effect on September 7, but Ghill noted that "if everything goes as expected," they will be postponed.

"If we reach an agreement, we do not need retaliatory tariffs," he said.

Tags: USA/Europe/Economy